XML 37 R16.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Non Recourse Collateralized Financings | 12 Months Ended
--- | ---
Dec. 31, 2011
NON RECOURSE COLLATERIZED FINANCING [Abstract] |
Non-Recourse Collateralized Financing | NON-RECOURSE COLLATERIZED FINANCING The following table summarizes information about the Company’s non-recourse collateralized financing for the periods indicated:
| December 31, 2011
| Interest Rate |  | Weighted Average Life Remaining (in years) |  | Balance Outstanding |  | Value of Collateral
Securitization financing: |  |  |  |  |  |  |
Secured by non-Agency CMBS | 6.2% fixed |  | 2.1 |  | $ | 15,000 |  |  | $ | 16,388 |
Secured by single-family mortgage loans | 1-month LIBOR plus 0.30% |  | 3.2 |  | 18,928 |  |  | 19,843 |
TALF financing:(1) |  |  |  |  |  |  |  |  |
Secured by non-Agency CMBS | 2.7% fixed |  | 1.2 |  | 37,672 |  |  | 49,087 |
Unamortized net bond premium and deferred costs |  |  |  |  | (705 | ) |  | n/a |
|  |  |  |  | $ | 70,895 |  |  | $ | 85,318 |
| December 31, 2010
| Interest Rate |  | Weighted Average Life Remaining (in years) |  | Balance Outstanding |  | Value of Collateral
Securitization financing: |  |  |  |  |  |  |
Secured by commercial mortgage loans | 7.2% fixed |  | 3.7 |  | $ | 23,669 |  |  | $ | 43,440 |
Secured by non-Agency CMBS | 6.2% fixed |  | 3.4 |  | 15,000 |  |  | 16,754 |
Secured by single-family mortgage loans | 1-month LIBOR plus 0.30% |  | 3.4 |  | 21,183 |  |  | 21,889 |
TALF financing:(1) |  |  |  |  |  |  |
Secured by non-Agency CMBS | 2.7% fixed |  | 2.2 |  | 50,713 |  |  | 64,097 |
Unamortized net bond premium and deferred costs |  |  |  |  | (3,460 | ) |  | n/a |
|  |  |  |  | $ | 107,105 |  |  | $ | 146,180 |
(1) | Financing provided by the Federal Reserve Bank of New York under its Term Asset-Backed Securities Loan Facility (“TALF”).
The Company has redeemed securitization bonds in the past, and in certain instances, the Company has kept the bond outstanding and used it as collateral for additional repurchase agreement borrowings. These additional borrowings may have been used to either finance the bond redemption or to purchase additional investments. Although these bonds are legally outstanding, the balances are eliminated in consolidation because the issuing trust is included in the Company’s consolidated financial statements. In the third quarter of 2011, the Company redeemed $23,669 of its non-recourse collateralized financing. This redemption consisted of a portion of our securitization financing bond issued in 1998 with commercial mortgage loans as collateral. The Company replaced this financing, which had a coupon rate of 7.16% at the time of redemption, with lower cost repurchase agreement financing (with terms which are subject to change). The following table summarizes information regarding all of the Company’s redeemed bonds that have an outstanding balance as of December 31, 2011:
| December 31, 2011
Collateral Type | Par Value Outstanding |  | Fair Value |  | Repurchase Agreement Balance
Single-family mortgage loans | $ | 21,477 |  |  | $ | 18,616 |  |  | $ | 16,980 |
Commercial mortgage loans | 49,220 |  |  | 49,256 |  |  | 43,482 |
| $ | 70,697 |  |  | $ | 67,872 |  |  | $ | 60,462 |

X
- Details
Name: | dx_NonRecourseCollaterizedFinancingAbstract
Namespace Prefix: | dx_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration